Here are 5 EASY Ways To Save Money While Studying Abroad

Studying overseas is a dream come true for many students. It not only boosts your employability both abroad and in your hometown, but it also makes you a well-rounded and independent member of society.

However, the truth is that for most students, studying in a foreign country is an expensive endeavor. You might have a part-time job to help with the finances or your parents may have saved up for years to help you fulfill your dream. Latest Updated on Apr 26, 2018

Whatever the reason may be and whether you study in USA, Australia, Hong Kong or New Zealand, you need to find ways to cut back on your expenses. Below are five ways to conserve your expenditure:

1. Share Everything

The single most effective way to cut back on expenses, especially for accommodation and groceries, is by sharing it with other students. Get flat-mates or roommates, buy stuff in bulk so that the cost is reduced and cook with flat mates so that groceries are cheaper. Cooking and doing grocery shopping together is also a great way to socialize and bond with your flat mates.

2. Use Student Discounts

Many commercial establishments offer student discounts but here’s the catch: They won’t always advertise it. Be smart while pursuing your masters in New Zealand, Australia or USA by asking for student discounts at the counter. Sure, some commercial establishments might not offer discount for students, but you won’t know until you ask!

3. Travel in the Metro and Bus

Yes, traveling in a taxi is convenient but it’s also quite expensive. Instead, use the subway or metro or bus to get around the city. Subway and metros are not only cheap and fast but they are also a more environmentally-friendly means of transport than cars or cabs. Some cities also allow you to rent a bike for a relatively inexpensive daily fee. Also, as much as possible, try to walk. Walking is a great way to explore a new destination, drink in the culture and take in new sights and sounds.

4. Have a Budget – And Stick to it

All too often students studying overseas forget to make a budget and stick to it once they arrive in the host country. However, it’s important to keep a track of your expenses especially if you’re operating on a tight budget. Save all your receipts and have a diary where you write down all your expenses.

Tracking your expenses also may give you a much needed reality check on how much you are actually spending versus how much you think you are spending.

Several websites online offer a bevy of vouchers, coupons and discounts in exchange for taking surveys, buying in bulk or shopping on certain days. Use them. In the long run, these vouchers and coupons can really save a considerable amount of money every month.